If it seems like the price of gasoline has been rising, you aren’t imagining things.

As the weekly Lundberg survey shows, in the week ended February 10, gas rose by 11.57 cents to $3.5101, the highest since September. The latest price is also 12% higher compared to a year earlier. What is troubling is that as the attached chart shows, the trend of gradual gas price declines has now firmly ended, having touched a low of $3.20, and has been replaced by a steady climb over the past 2 months.

If gas prices are going up, can inflation be far behind?